For Once I Agree With Something I Read

I have the chance to pay attention to the housing market's across California. I
obviously see other market s as well in my travels. I can tell you this specifically
across California, Nor Cal or So Cal, the homes that are correctly priced are selling. Even from an investment point of view, if we do loose a little more value, the probability to get interest rates this low next year are not likely.

Distressed properties in Phoenix, Ft. Myers/Naples, Fla., Las Vegas, Southern California, and Sacramento, Calif., spent 20% fewer days on the market in the first quarter compared with the first quarter of 2008, according to a recent report from ZipRealty. Distressed properties include foreclosures and short sales.
"Banks have sped up the process for getting foreclosed homes on the market, and continue to lower prices to sell them," said Leslie Tyler, vice president of ZipRealty, in a news release. "The drop in days on market versus last year highlights that distressed properties in these hard hit markets are starting to move, which is a hopeful sign."
The 25 U.S. cities most searched on ZipRealty.com were in the Sunbelt, including five in California, eight in Arizona, one in Texas, four in Las Vegas, six in Florida and one in Georgia, according to the news release.
Areas that were able to fetch the highest sales-to-list price ratios during the first quarter included Hesperia Calif, (ZIP code 92344), where buyers paid, on average, more than 15% higher than the listing price. Neighborhoods with the lowest sales-to-list price ratios included Fort Lauderdale, Fla., (ZIP code 33304), where homes are going for 30% or more below asking price. View the news release.
Read more real-estate news in this week's pages, including the best places to live in 2009. Plus, read why it's looking even more attractive to buy a home today.
It's looking especially attractive if you're a first-time buyer or investor.

I leave for Las Vegas tonight, I will keep you posted on the local market in Greater Las Vegas.

-Christopher Rockey